KGRN vs. SGOV
KGRN (KraneShares MSCI China Clean Technology Index ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - KGRN is a China Equities fund tracking the MSCI China IMI Environment 10/40 Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, KGRN returned -12.17%/yr vs 3.58%/yr for SGOV. At a correlation of -0.04, they often move in opposite directions. KGRN charges 0.79%/yr vs 0.09%/yr for SGOV.
Performance
KGRN vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, KGRN achieves a -13.26% return, which is significantly lower than SGOV's 1.73% return.
KGRN
- 1D
- -1.22%
- 1M
- -13.67%
- YTD
- -13.26%
- 6M
- -13.39%
- 1Y
- -10.47%
- 3Y*
- -3.05%
- 5Y*
- -12.17%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.73%
- 6M
- 1.80%
- 1Y
- 3.92%
- 3Y*
- 4.69%
- 5Y*
- 3.58%
- 10Y*
- —
KGRN vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KGRN KraneShares MSCI China Clean Technology Index ETF | -13.26% | 21.45% | -1.11% | -14.75% | -40.45% | 5.91% | 148.64% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.73% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between KGRN and SGOV is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.04 |
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Return for Risk
KGRN vs. SGOV — Risk / Return Rank
KGRN
SGOV
KGRN vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI China Clean Technology Index ETF (KGRN) and iShares 0-3 Month Treasury Bond ETF (SGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KGRN | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.77 | ||
| Sortino ratioReturn per unit of downside risk | -274.05 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 194.05 | -193.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 395.07 | -395.45 |
| Martin ratioReturn relative to average drawdown | -0.92 | 4,426.92 | -4,427.84 |
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Drawdowns
KGRN vs. SGOV - Drawdown Comparison
The maximum KGRN drawdown since its inception was -66.24%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for KGRN and SGOV.
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Drawdown Indicators
| KGRN | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.24% | -0.03% | -66.21% |
Max Drawdown (1Y)Largest decline over 1 year | -27.39% | -0.01% | -27.38% |
Max Drawdown (3Y)Largest decline over 3 years | -42.19% | -0.01% | -42.18% |
Max Drawdown (5Y)Largest decline over 5 years | -63.60% | -0.03% | -63.57% |
Current DrawdownCurrent decline from peak | -54.58% | 0.00% | -54.58% |
Average DrawdownAverage peak-to-trough decline | -34.05% | -0.00% | -34.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.44% | 0.00% | +11.44% |
Volatility
KGRN vs. SGOV - Volatility Comparison
KraneShares MSCI China Clean Technology Index ETF (KGRN) has a higher volatility of 6.77% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that KGRN's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KGRN | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.77% | 0.04% | +6.73% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 0.12% | +15.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.48% | 0.19% | +23.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.67% | 0.24% | +34.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 0.24% | +32.58% |
KGRN vs. SGOV - Expense Ratio Comparison
KGRN has a 0.79% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
KGRN vs. SGOV - Dividend Comparison
KGRN's dividend yield for the trailing twelve months is around 0.98%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KGRN KraneShares MSCI China Clean Technology Index ETF | 0.98% | 0.85% | 1.49% | 0.74% | 1.98% | 0.41% | 0.01% | 5.88% | 2.04% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% |
Frequently Asked Questions
KGRN and SGOV have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KGRN has higher volatility (6.77%) compared to SGOV (0.04%). In terms of maximum drawdown, KGRN dropped -66.24% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.58% vs -12.17% for KGRN. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.58% return vs -12.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.79% for KGRN.
SGOV has the higher dividend yield at 3.85%, compared with 0.98% for KGRN.
KGRN is categorized as China Equities, while SGOV is Ultrashort Bond. KGRN tracks MSCI China IMI Environment 10/40 Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: CICC and iShares. Their fees differ too: 0.79% for KGRN and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs -0.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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